Traders Buy International Business Machines Corporation (IBM) on Weakness

Investors bought shares of International Business Machines Corporation (NYSE:IBM) on weakness during trading hours on Thursday. $138.64 million flowed into the stock on the tick-up and $96.31 million flowed out of the stock on the tick-down, for a money net flow of $42.33 million into the stock. Of all companies tracked, International Business Machines Corporation had the 26th highest net in-flow for the day. International Business Machines Corporation traded down ($0.59) for the day and closed at $147.03

Several analysts recently commented on the stock. BidaskClub upgraded shares of International Business Machines Corporation from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Stifel Nicolaus restated a “buy” rating and set a $182.00 price target on shares of International Business Machines Corporation in a research report on Friday, July 21st. Royal Bank Of Canada restated a “sector perform” rating and set a $160.00 price target (down previously from $165.00) on shares of International Business Machines Corporation in a research report on Saturday, July 22nd. Morgan Stanley restated an “overweight” rating and set a $192.00 price target on shares of International Business Machines Corporation in a research report on Wednesday, August 23rd. Finally, Vetr upgraded shares of International Business Machines Corporation from a “sell” rating to a “hold” rating and set a $150.26 price target on the stock in a research report on Monday, June 19th. Seven analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $157.12.

The company has a market cap of $137.02 billion, a price-to-earnings ratio of 12.20 and a beta of 0.95. The stock’s 50 day moving average price is $145.11 and its 200-day moving average price is $152.21.

International Business Machines Corporation (NYSE:IBM) last posted its quarterly earnings results on Tuesday, July 18th. The technology company reported $2.97 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.23. International Business Machines Corporation had a net margin of 14.58% and a return on equity of 71.53%. The firm had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.45 billion. During the same quarter last year, the firm posted $2.95 earnings per share. International Business Machines Corporation’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts anticipate that International Business Machines Corporation will post $13.77 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of IBM. Gilman Hill Asset Management LLC raised its stake in shares of International Business Machines Corporation by 0.4% during the first quarter. Gilman Hill Asset Management LLC now owns 3,767 shares of the technology company’s stock valued at $656,000 after purchasing an additional 15 shares during the period. Waldron LP raised its stake in shares of International Business Machines Corporation by 98.2% during the first quarter. Waldron LP now owns 4,141 shares of the technology company’s stock valued at $715,000 after purchasing an additional 2,052 shares during the period. Personal Capital Advisors Corp raised its stake in shares of International Business Machines Corporation by 145.2% during the first quarter. Personal Capital Advisors Corp now owns 6,161 shares of the technology company’s stock valued at $1,072,000 after purchasing an additional 3,648 shares during the period. First Manhattan Co. raised its stake in shares of International Business Machines Corporation by 3.7% during the first quarter. First Manhattan Co. now owns 807,697 shares of the technology company’s stock valued at $128,302,000 after purchasing an additional 28,472 shares during the period. Finally, OLD Dominion Capital Management Inc. purchased a new stake in shares of International Business Machines Corporation during the first quarter valued at approximately $654,000. Institutional investors own 57.88% of the company’s stock.

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International Business Machines Corporation Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

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